CITYCON OYJ Stock Exchange Release 17 February 2020 at 15:30 hrs
ESPOO, Finland, Feb. 17, 2020 /PRNewswire/ -- Citycon Oyj has on 17 February 2020 conveyed 12,804 own shares held by the company in a directed share issue without consideration to one key employee of the company for payment of rewards earned under the company's share-based incentive programmes.
Under the Matching Share Plan 2018-2020 a total of 5,304 shares and under the Restricted Share Plan 2015 a total of 7,500 shares were conveyed for payment of rewards earned in accordance with the terms and conditions of the said plans.
On 16 April 2019, Citycon Oyj's Board of Directors decided on the repurchase and conveyance of an aggregate maximum number of 171,300 of its own shares in several separate transactions during 2019-2021 to implement payments of rewards earned under the company's share-based incentive programmes and agreed severance payments.
The conveyance of shares is based on the authorisation granted to the Board of Directors by the General Meeting of Shareholders held on 13 March 2019. The shares were conveyed and registered in the recipient's book-entry account on 8 May 2019, after which they entitle their holder to dividend and other shareholder rights.
Further details concerning the company's Matching Share Plan 2018-2020 and Restricted Share Plan 2015 are available in the company's remuneration statements.
The company holds 3,337 own shares after the conveyance.
Espoo, 17 February 2020
Citycon is a leading owner, manager and developer of urban, grocery-anchored shopping centres in the Nordic region, managing assets that total almost EUR 4.5 billion. Citycon is No. 1 shopping centre owner in Finland and among the market leaders in Norway, Sweden and Estonia. Citycon has also established a foothold in Denmark.
Citycon has investment-grade credit ratings from Moody's (Baa3) and Standard & Poor's (BBB-). Citycon Oyj's share is listed in Nasdaq Helsinki.
IR and Legal Specialist
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SOURCE Citycon Oyj